According to a recent market study by Future Market Insights (FMI), the global market for pneumococcal testing is expected to reach US$ 3.6 Billion by 2030. It is currently valued at US$ 1.6 Billion.
| Data Points | Market Insights |
| Market Value 2022 | USD 1.6 Bn |
| Market Value 2030 | USD 3.6 Bn |
| CAGR 2022-2030 | 11.2% |
| Key Players | The key players are Thermo Fisher Scientific Inc., Becton, Dickinson and Company, Abbott Laboratories, F-Hoffmann la Roche Ltd, Hologic, Inc., bioMerieux, Bio-Rad Laboratories, Inc., Meridian Biosciences, Quest Diagnostics and Quidel. |
| Share of Top 5 Countries | 62.1% |
Due to its current diagnostic landscape, which includes unmet needs and emerging technologies, pneumococcal testing is becoming more popular all over the world.
Pneumococcal testing has seen numerous technical advancements over the past ten years.
There are numerous potential technologies as a result of the increased focus on molecular diagnostic techniques for respiratory pathogen detection.
Due to its ability to process a variety of respiratory specimens and effectively demonstrate high analytical sensitivity and specificity, pneumococcal testing has gained clinical significance.
The advancement of nucleic acid detection tests and improvements in POCT products will be the main drivers of the pneumococcal testing market over the coming years.
Additionally, as patient awareness of the advantages of early diagnosis has grown, there are now more diagnostic tests available in developing nations like India and Africa.
Request a sample @
https://www.futuremarketinsights.com/reports/sample/rep-gb-11289
In the near future, it is also anticipated that increased molecular diagnostic testing adoption and untapped markets in developing regions will open up new growth opportunities for the pneumococcal testing market.
Key Takeaways of Pneumococcal Testing Market Study
- Point of care testing (POCT) remains the preferred testing methos, representing about 2/5th of total market revenue. This is attributed to rising need to provide results in real time that help physicians make informed decisions in treatment of diseases. Moreover, POCT is useful as medical care shifts to a focus on prevention, early detection, and managing acute and chronic conditions.
- Analyzers capture a leading value share in market and will maintain the trend throughout the forecast period.
- Hospitals account for over half of overall market value, given availability of pneumococcal testing and skilled personnel for better clinical management of various diseases across several medical domains.
- Enzyme linked immunosorbent assay (ELISA) accounts for major revenue share, owing to its high sensitivity and specificity, and easier to perform compared to other methods used for the detection of substances in body.
- North America and Europe collectively contribute over 70% of market share in pneumococcal testing market, with the former expected to grow at a CAGR of 12% during the forecast period.
- Increasing prevalence of pneumococcal diseases, recent advancements in pneumococcal diagnostics and government support for quality healthcare is driving the pneumococcal testing market in North America.
Tracking the COVID-19 Impact on Market Performance
The coronavirus (COVID-19) pandemic is benefiting market expansion. The novel coronavirus has been linked to an increase in pneumonia fatalities, according to the Centers for Disease Control and Prevention (CDC).
The use of molecular diagnostic tests to treat COVID-19 pneumonia has been prompted by this. Patients with severe respiratory conditions like pneumonia, including those who have travelled in the past, are being randomly selected by health systems around the world and tested for COVID-19.
Acquisition Strategic Focus of Pneumococcal Testing Manufacturers
Acquisition strategy aids in enhancing life sciences by supplying cutting-edge technologies that significantly benefit organisations.
For instance, Thermo Fisher Scientific Inc., the market leader in providing services to science, acquired QIAGEN N.V., a major international provider of molecular diagnostics and sample preparation technologies, in March 2020.
Through this acquisition, it will be possible to accelerate innovation by utilising R&D expertise and capabilities that are unmatched in the industry.
Ask an Analyst@
https://www.futuremarketinsights.com/ask-question/rep-gb-11289
Pneumococcal Testing Market by Category
By Method:
- Immunodiagnostics
- Molecular Diagnostic
- Point of Care Testing
By Product:
- Consumables
- Analyzers
By Technology:
- Immunofluorescence
- Enzyme Linked Immunosorbent Assay (ELISA)
- Western Blot Test
- Nucleic Acid Sequence based Amplification
- Immunohistochemistry
- Polymerase Chain Reaction
- Others
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Clinics
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Read Related Reports:
https://vocal.media/stories/liquid-biopsy-market-2022-scope-of-current-and-future-industry-2031
https://degentevakana.com/blogs/view/118096
https://degentevakana.com/blogs/view/118100
https://vocal.media/stories/dental-imaging-equipment-market-2022-scope-of-current-and-future-industry-2030
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
Report: https://www.futuremarketinsights.com/reports/pneumococcal-testing-market
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
LinkedIn| Twitter| Blogs